The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-06-18
DUN g. CO.'S REVIEW.
The Recent PanIcs in Coffee and Wheat Re
garded s Ben eficiai to Trade.

The Recent PanIcs in Coffee and Wheat Re
garded Ben eficiai to Trade.
NEW YORK June 1z.-Duns weekly review
of trade says 1t is most encouraging that two of
the great speculations by which legitimate bust
ness has for months been embarrassed, have come
to an end without disaster to other parties save
those who had invited disaster Arnold e Co. in
coffee, and Kershaw & Co in grain, with the
powerful combinations behind them, have
broken, with a number Of smaller operators, but
commerce and finances have not been seriously
disturbed. Those who derided or disputed the
wheat statistics given three months ago in this
review can whether these figures
were more correct than the estimates
Of the speculative ring March 10, this
review said that the surplus. in excess of the
years home demand and l04 000. 900 bu already
exported, was more than &c, 000. 600 bu. F" Specu-
lators ridiculed this warning. But 40, 900, 600 bu
more have been exported to date, and the home
demand has beeu satisfied and within thirteen
days of the end of the crop year the visible sup
ply of wheat is AZ, liz, lie bu besides all wheat
in farmers hands and country elevators, and
all the -four in the country. For the first time
since February Chicago was selling wheat for
export on Thursday, and the market is
gradually adjusting itself to natural conditions.
Sales of wheat here reached &C. 1917 900 bu, and
of coffee 1,272. 900 bags. In both markets
liquidation Is progressing with more quiet
feeling.
The iron market is somewhat weakened in
tone by the breaking or the coke combination
and the renewed production of some furnaces
which have been banked. Cotton yielded but
little when the other sDeculations broke, though
crop prospects are every where reported the most
favorable for seven years. With = per cent in
crease in acreage, a yield the largest ever known
by 800 900 bales may result, and the price ot raw
Der /, with print cloths lower than at that time.
Distrust of current prices affects dealings in
goods to some extent though the demand is still
healthy and strong. Higher prices for wool at
81. .AAp ole ruyth at fhn INnu
dishearten manufacturers. who complain of
heavy imports OF wooden goods classified
worsteds, and admitted at low duties. Reports
from many points, though almost
uniformly favorable as to volume
of trade for the season, and exceedingly
hopeful to the future, begin to note strin-
gency of money In several directions; at Cleve-
/ and because of large demands; at Nashville,
because of real estate operations; at Omaha, be-
cause large sums have gone into buildings. and
at Detroit because of the wool movement
Chicago bankers, in view of larger demands from
legitimate customers than were expected, regret
that so much has been tied up in wheat loans.
Collections reported satisfactory at most
points also. average at Kansas City, only fair mt
Denver, Galveston. Omaha and Nashville and
strike keeps 9. 600 men idle. The ore handlers
strike also dsturbs shipments at Cleveland.
From Little Rock it is noted that Arkansas real
estate has advanced 100 per cent In the past
year.
Foreign trade is not improving in balance.
May showed a decrease of SO, 25e 900 in exports
OF cotton, ana 81, 4OOOUO IN provisions ana CATTLE
while imports at New York were 10 per cent
larger than last year. There is slight reduc
ton in raw and advance in refined sugar.
Leather is quiet, with yielding in quota
tons, though the fair business done by boot and
shoemakers promises i'm provement
Railroad earnings continue excellent, and
stocks yield but little in price. The Interstate
commerce Commissions latest decision is not
yet clearly understood, here or abroad. but its
effect is to cause some hesitation.
The business failures during the last seven
dayS number the United States. l03.
Canada. 20; total. 2l3 as compared with 173 last
week. and for the corresponding week of last
year, i55 The increase noted this week arises,
of course. mainly through the wheat excitement
in Chicago and the West In other sections of
the country the business troubles appear to be
lighter than usual